Commercial PASHA Bank, since July 3, is a sales representative for non-bank credit institution bonds FINCA Azerbaijan.
As noted in the Baku Stock Exchange (BSE), the minimum obligations of the bank in the organization of bond purchases FINCA Azerbaijan is 200,000 manats, the maximum benefit of the bank is 5% of the sale.
Non-bank credit institution FINCA Azerbaijan since the beginning of the second half started the placement of bonds worth 10 million manat. The issue is divided into 10 thousand bonds in denominations of one thousand manats for security. Yields on the bonds are 11.5% per annum.
Underwriter of the bonds, as expected, will be PASHA Capital - the leader among brokers in April-June. - 17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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